Texas Tech University

Umbrella Insurance

McKayla Girardin

August 26, 2022

WALLET HUB - Everything you need to know about umbrella insurance policies.

Umbrella insurance is a type of insurance coverage that extends the liability insurance from an auto or homeowner's insurance policy to cover more situations with higher limits.

Umbrella insurance policies offer extended coverage limits that start at $1 million and will also cover forms of liability such as libel and slander. Also referred to as personal umbrella insurance, it can supplement insurance policies for motorcycles, boats, and other recreational vehicles, too.

Ask the Expert

Michael Guillemette, Ph.D., CFP® – Assistant Professor/MS Program Director, Personal Financial Planning, College of Human Sciences, Texas Tech University

  • Who should purchase Umbrella Insurance?
  • How should people choose their Umbrella Insurance coverage limits?

Guillemette encourages consumers to consider those questions, and he explains why here.